Use of Technology for Long-Term Growth and Business Sustainability

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You have to present to your board of directors your ideas to propel business growth, which may be included in the marketing plan for the organization. You aim to highlight potential use of technology for achieving long-term growth and business sustainability.

a. Identify and describe, using examples, the risks to the business of ignoring the use of technology within the marketing function. [7]

Businesses and the global market has evolved drastically over the years with changing lifestyles, norms, technology, purchasing patterns and competition. Markets across the globe no longer exist in isolation but rather are interconnected by means of ever evolving and innovating technologies. Because of the way that goods and services are
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is known for their clothing and action sport racing gear, however on their website is not just where someone could purchase their products but also to see the latest news of some of the action sports athletes that they sponsor and about events related to the sports and athletes that the brand is involved in. Websites could also be a point that drives more sales by having specials that are only available online which can generate more sales. Also websites also are a point of great convenience to persons far away from actual outlets or even for international customers with credit cards. Websites can prove to be a very beneficial addition to a business as it also adds to the perception of the brand. * Social Media and Networks. Social media marketing has become very popular as it allows the business to reach out and interact with its customers to get real feedback and create relationships with them so that a brand can become so integrated with their customers that they consider it part of their personal image. Through social networks such as Twitter and Facebook brands can involve their customers with their product by telling them about events and specials or by talking about the product or other customer’s experiences as well. It is a good way to find out about what customers think of the product as well as the brand perception and how to adjust. Social networks help to grasp a greater market share since they help reach more customers. *
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